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|
MIRA INFORM REPORT
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Report No. : |
498239 |
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Report Date : |
19.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
APLAB LIMITED |
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|
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Registered
Office : |
Aplab House, A-5, Wagle Estate,Thane-400604, Maharashtra |
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Tel. No.: |
91-22-67395555, 25821861 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
30.09.1964 |
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Com. Reg. No.: |
11-013018 |
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Capital
Investment / Paid-up Capital : |
INR 50.000 Million |
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|
|
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CIN No.: [Company Identification
No.] |
L99999MH1964PLC013018 |
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|
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
27330299351 |
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PAN No.: [Permanent Account No.] |
AAACA1030H |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACA1030H1ZC |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The Company is engaged in business of manufacture, sale and servicing of professional electronic equipment. (Registered Activity) |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1964 and it is a manufacturer of uninterrupted power supply systems, electronic transaction control systems and test measuring and industrial control equipment. As per financials of March 2017, the company has registered decent growth in its revenue but has reported losses. Rating takes into consideration the company’s accumulated previous year’s losses from its business operations which has led to erosion of net worth and weak financial risk profile. Rating also takes into account the ongoing delay in debt servicing by the company. Payments seems to be slow and delayed. In view of aforesaid, the company can be considered for business dealings at fully safe and secured trade terms and conditions. Note: As a Networth of the company is negative, we are unable to recommend any credit limit for the subject. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating : D (Issuer non-cooperative) |
|
Rating Explanation |
Lowest-credit-quality and very low prospects of recovery |
|
Date |
21.02.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 19.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Amrit Patel |
|
Designation : |
Accounts Department |
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Contact No.: |
91-9820845508 |
|
Date : |
16.03.2018 |
LOCATIONS
|
Registered Office/
Corporate Office/ Factory 1 : |
Aplab House, A-5, Wagle Estate,Thane-400604, Maharashtra |
|
Tel. No.: |
91-22-67395555, 25821861 |
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Mobile No.: |
91-9820845508 (Mr. Amrit Patel) |
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Fax No.: |
91-22-25823137 |
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E-Mail : |
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Website : |
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Factory 2 : |
A-1, A-3, A-5, A-6 & B-92, Wagle Industrial Estate,
Thane-400604, Maharashtra, India |
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Factory 3 : |
Plot No. 12, TTC Industrial Area, Village Digha, Thane
Belapur Road, Navi Mumbai - 400 708, Maharashtra, India |
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Factory 4 : |
Unit No. 37, SDF - II, SEEPZ-SEZ, Andheri (East), Mumbai -
400 096, Maharashtra, India |
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Factory 5 : |
Unit 6 & 18, Electronic Sadan II, Bhosari, Pune - 411
026, Maharashtra, India |
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Factory 6 : |
EL-15, Pimpri Industrial Area, MIDC, Bhosari, Pune - 411
026, Maharashtra, India |
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Sales and Service
Centres : |
Located at : · Agra · Chennai · Jaipur · Mumbai · New Delhi · Surat · Ahmedabad · Coimbatore · Kochi · Mysore · Patna · Trivandrum · Bangalore · Guwahati · Kolkatta · Madurai · Pune · Trichy · Bhopal · Goa · Kannur · Mangalore · Raipur · Bhubaneshwar · Hubli · Lucknow · Nagpur · Ranchi · Chandigarh · Indore · Ludhiana · Nashik · Secunderabad |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Prabhakar Shankarao Deodhar |
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Designation : |
Managing Director |
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Address : |
13 Landmark, 175 Carter Road, Bandra,
Mumbai-400050, Maharashtra, India |
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Date of Appointment : |
01.02.1995 |
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DIN No.: |
00393117 |
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Other
Directorship:
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||||||||||||||||||||||||||||||||
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Name : |
Mr. Vilas Waman Katre |
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Designation : |
Director |
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Address : |
91, Sir Balachandra Road Hindu Colony, 3rd Lane, Dadar, Mumbai-
400014, Maharashtra, India |
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Date of Appointment : |
29.05.2017 |
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DIN No.: |
00054460 |
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Other
Directorship:
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Name : |
Ms. Amrita Deodhar |
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Designation : |
Director |
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|
Address : |
13, Landmark, 175, Carter Road, Bandra (West), Mumbai-400050,
Maharashtra, India |
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Date of Appointment : |
19.01.2012 |
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DIN No.: |
00538573 |
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Other
Directorship:
|
|||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shailendra Kumar Hajela |
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Designation : |
Director |
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|
Address : |
3, Bela Road, Civil Lines, Delhi-110054, India |
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Date of Appointment : |
25.10.2008 |
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DIN No.: |
01001987 |
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Other
Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Rajesh Kesrinath Deherkar |
|
Designation : |
Company Secretary |
|
Address : |
58-401 Audumbar, Vasant Vihar, Thane (West) - 400610, Maharashtra, India |
|
Date of Appointment : |
31.12.2010 |
|
PAN No.: |
AGMPD4211C |
|
|
|
|
Name : |
Mr. Amrit Patel |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on December, 2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % |
|
|
(A) Promoter & Promoter
Group |
2948351 |
58.97 |
|
|
(B) Public |
2051649 |
41.03 |
|
|
Grand Total |
5000000 |
100.00 |
Statement showing shareholding pattern of the Promoter and
Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % |
|
|
A1) Indian |
|||
|
Any
Other (specify) |
2948351 |
58.97 |
|
|
AMRITA PRABHAKAR DEODHAR |
371364 |
7.43 |
|
|
PRABHAKAR SHANKAR DEODHAR |
561152 |
11.22 |
|
|
ARUNA NARAYANAN |
16000 |
0.32 |
|
|
SHIRISH PRABHAKAR DEODHAR |
21333 |
0.43 |
|
|
P S DEODHAR FOUNDATION TRUST |
137803 |
2.76 |
|
|
CONTECH SOFTECH SOLUTIONS
PRIVATE LIMITED |
6110 |
0.12 |
|
|
DEODHAR ELECTRO DESIGN PRIVATE
LIMITED |
210338 |
4.21 |
|
|
DEVIZE (INDIA) PRIVATE LIMITED |
220451 |
4.41 |
|
|
ORIGIN INSTRUMENTATION PRIVATE
LIMITED |
6100 |
0.12 |
|
|
PRINT QUICK PVT LTD |
76500 |
1.53 |
|
|
ZEE ENTERTAINMENT ENTERPRISES
LTD |
1321200 |
26.42 |
|
|
Sub
Total A1 |
2948351 |
58.97 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
2948351 |
58.97 |
Statement showing shareholding pattern of the Public
shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957 As a
% |
|
|
B1) Institutions |
|
|
|
|
Mutual
Funds/ |
2300 |
0.05 |
|
|
Sub
Total B1 |
2300 |
0.05 |
|
|
B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto INR 0.200 million |
1198044 |
23.96 |
|
|
Individual
share capital in excess of INR 0.200 million |
743942 |
14.88 |
|
|
BALRAM BHARWANI |
453715 |
9.07 |
|
|
MITA DIPAK SHAH |
63027 |
1.26 |
|
|
SHARAD KANAYALAL SHAH |
57600 |
1.15 |
|
|
Any
Other (specify) |
107363 |
2.15 |
|
|
Bodies Corporate |
65887 |
1.32 |
|
|
Clearing Members |
4745 |
0.09 |
|
|
NRI |
36731 |
0.73 |
|
|
Sub
Total B3 |
2049349 |
40.99 |
|
|
B=B1+B2+B3 |
2051649 |
41.03 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in business of manufacture, sale and servicing of professional electronic equipment. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
|
||||||||||||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
Corporation Bank, Thane, Maharashtra, India ·
Bank of Maharashtra, Thane, Maharashtra,
India |
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|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Shahade and Associates Chartered Accountants |
|
Address : |
Gautam, Plot No. 29, Road No. 2, Sion (East), Mumbai - 400022, Maharashtra, India |
|
Tel No.: |
91-22-24072801, 2402 2918 |
|
Email : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
|
|
|
Associate (Enterprise
where Aplab Limited and its subsidiaries have 20% holding or, investing
parties who have over 20% holding in Aplab Limited) : |
Zee Entertainment Enterprises Limited (Formerly Zee
Telefilms Limited) |
|
|
|
|
Enterprises over which
key management personnel and their relatives are able to exercise significant
influence : |
Deodhar Electro Design Private Limited Intel Exports Corporation Telemetric Equipments Private Limited Print Quick Private Limited Origin Instrumentation Private Limited Contech Soft-Tech Solution Private Limited Telematra Systems Private Limited Mitramax Energy Private Limited Sprylogic Technologies Limited |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Equity Shares: The Company has one class of equity shares having a par value of INR 10 per share. There is no change in share capital of the Company during the year.
Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding
Details of shares
held by shareholders holding more than 5% of the aggregate shares in the
Company.
|
Name of Shareholder |
As at 31-03-2017 |
|
|
No of shares held |
% of shares |
|
|
Prabhakar Shankar Deodhar |
560652 |
11.21 |
|
Amrita Prabhakar Deodhar |
368314 |
7.37 |
|
Zee Entertainment Enterprises Limited |
1321200 |
26.42 |
|
Balram Bharwani |
454825 |
9.10 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
(230.264) |
(105.738) |
70.182 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(180.264) |
(55.738) |
120.182 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
73.781 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
78.653 |
|
(d) long-term provisions |
121.669 |
111.077 |
108.799 |
|
Total
Non-current Liabilities (3) |
121.669 |
111.077 |
261.233 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
643.863 |
716.904 |
623.110 |
|
(b) Trade payables |
100.544 |
234.608 |
124.868 |
|
(c) Other current liabilities |
493.172 |
294.639 |
121.361 |
|
(d) Short-term provisions |
9.784 |
14.864 |
17.808 |
|
Total
Current Liabilities (4) |
1247.363 |
1261.015 |
887.147 |
|
|
|
|
|
|
TOTAL |
1188.768 |
1316.354 |
1268.562 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
519.406 |
533.068 |
550.164 |
|
(ii) Intangible Assets |
0.194 |
0.194 |
0.194 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.236 |
0.736 |
0.736 |
|
(c) Deferred tax assets (net) |
292.635 |
286.797 |
197.651 |
|
(d) Long-term Loan and Advances |
1.201 |
1.201 |
1.201 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
813.672 |
821.996 |
749.946 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
116.878 |
185.990 |
333.431 |
|
(c) Trade receivables |
175.545 |
199.570 |
182.871 |
|
(d) Cash and cash equivalents |
29.530 |
60.848 |
(22.654 |
|
(e) Short-term loans and
advances |
53.143 |
47.950 |
24.968 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
375.096 |
494.358 |
518.616 |
|
|
|
|
|
|
TOTAL |
1188.768 |
1316.354 |
1268.562 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
721.086 |
710.133 |
742.937 |
|
|
Other Income |
15.180 |
8.401 |
7.115 |
|
|
TOTAL
|
736.266 |
718.534 |
750.052 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of goods sold |
415.423 |
445.515 |
431.513 |
|
|
Changes in inventories |
0.000 |
0.000 |
14.764 |
|
|
Employees benefits expense |
157.273 |
171.413 |
190.470 |
|
|
Other expenses |
93.067 |
89.186 |
80.336 |
|
|
Manufacturing Expenses |
67.356 |
59.728 |
53.383 |
|
|
TOTAL |
733.119 |
765.842 |
770.466 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
3.147 |
(47.308) |
(20.414) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
112.062 |
112.369 |
106.258 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(108.915) |
(159.677) |
(126.672) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
15.575 |
16.204 |
17.609 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(124.490) |
(175.881) |
(144.281) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(124.490) |
(175.881) |
(144.281) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(397.050) |
(221.169) |
(73.005) |
|
|
|
|
|
|
|
Add |
Depreciation
adjustment for prior years as per Sch II |
0.000 |
0.000 |
(3.883) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(521.540) |
(397.050) |
(221.169) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
44.060 |
55.195 |
34.854 |
|
|
TOTAL
EARNINGS |
44.060 |
55.195 |
34.854 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Value of Imports calculated on CIF basis Components and Spares and Outsourced Items |
55.998 |
176.585 |
134.601 |
|
|
TOTAL
IMPORTS |
55.998 |
176.585 |
134.601 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(24.90) |
(35.18) |
(28.86) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
117.740 |
180.470 |
309.210 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
152.570 |
119.680 |
141.490 |
|
Total Expenditure |
166.210 |
144.890 |
162.240 |
|
PBIDT (Excl OI) |
(13.640) |
(25.210) |
(20.750) |
|
Other Income |
0.960 |
1.200 |
0.820 |
|
Operating Profit |
(12.680) |
(24.010) |
(19.930) |
|
Interest |
26.430 |
26.180 |
25.320 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
(39.100) |
(50.190) |
(45.250) |
|
Depreciation |
3.990 |
3.990 |
3.990 |
|
Profit Before Tax |
(43.090) |
(54.180) |
(49.240) |
|
Tax |
NA |
NA |
NA |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
(43.090) |
(54.180) |
(49.240) |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
(43.090) |
(54.180) |
(49.240) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
88.86 |
102.58 |
89.84 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.11 |
3.56 |
4.06 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
88.34 |
192.21 |
105.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.03 |
(0.25) |
(0.06) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.01 |
(0.09) |
(0.04) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
1.15 |
1.10 |
1.00 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(4.22) |
(16.10) |
8.37 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(6.92) |
(22.62) |
7.38 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(2.88) |
(9.57) |
4.58 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.03 |
(0.42) |
(0.19) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(17.26) |
(24.77) |
(19.42) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(10.47) |
(13.36) |
(11.37) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
69.06 |
315.55 |
(120.05) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.30 |
0.39 |
0.58 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.21 |
0.24 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(0.15) |
(0.04) |
0.09 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
15.23 |
17.95 |
20.12 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.30 |
0.39 |
0.58 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR -- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
70.182 |
(105.738) |
(230.264) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
120.182 |
(55.738) |
(180.264) |
|
|
|
|
|
|
long-term borrowings |
73.781 |
0.000 |
0.000 |
|
Short term borrowings |
623.110 |
716.904 |
643.863 |
|
Current maturities of
long-term debts |
309.210 |
180.470 |
117.740 |
|
Total
borrowings |
1006.101 |
897.374 |
761.603 |
|
Debt/Equity
ratio |
8.371 |
(16.100 |
(4.225 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
742.937 |
710.133 |
721.086 |
|
|
|
(4.415) |
1.542 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
742.937 |
710.133 |
721.086 |
|
Profit/ (Loss) |
(144.281) |
(175.881) |
(124.490) |
|
|
(19.42%) |
(24.77%) |
(17.26%) |
s
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
50.000 |
50.000 |
|
(b) Reserves & Surplus |
|
(98.933) |
76.910 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
(3) Minority Interest |
|
5.079 |
5.025 |
|
Total
Shareholders’ Funds |
|
(43.854) |
131.935 |
|
|
|
|
|
|
(4) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
73.781 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
78.653 |
|
(c) Other long term
liabilities |
|
116.298 |
113.144 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
116.298 |
265.578 |
|
|
|
|
|
|
(5) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
834.744 |
623.110 |
|
(b) Trade payables |
|
235.485 |
121.508 |
|
(c) Other current liabilities |
|
179.500 |
122.814 |
|
(d) Short-term provisions |
|
15.152 |
18.576 |
|
Total
Current Liabilities (4) |
|
1264.881 |
886.008 |
|
|
|
|
|
|
TOTAL |
|
1337.325 |
1283.521 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
535.922 |
553.885 |
|
(ii) Intangible Assets |
|
3.567 |
2.008 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
5.478 |
3.041 |
|
(b) Non-current Investments |
|
0.236 |
0.236 |
|
(c) Deferred tax assets (net) |
|
0.584 |
0.383 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
293.169 |
210.524 |
|
Total
Non-Current Assets |
|
838.956 |
770.077 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
185.990 |
333.431 |
|
(c) Trade receivables |
|
201.838 |
177.649 |
|
(d) Cash and cash equivalents |
|
60.886 |
(22.604 |
|
(e) Short-term loans and
advances |
|
49.655 |
24.968 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
498.369 |
513.444 |
|
|
|
|
|
|
TOTAL |
|
1337.325 |
1283.521 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
711.011 |
745.723 |
|
|
Other Income |
|
6.914 |
7.149 |
|
|
TOTAL
|
|
717.925 |
752.872 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
412.559 |
412.393 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
16.792 |
14.764 |
|
|
Employees benefits expense |
|
180.693 |
204.404 |
|
|
Other expenses |
|
92.568 |
83.241 |
|
|
Manufacturing Expenses |
|
59.728 |
53.383 |
|
|
TOTAL |
|
762.340 |
768.185 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
(44.415) |
(15.313) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
112.373 |
106.260 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(156.788) |
(121.573) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
18.902 |
20.066 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
(175.690) |
(141.639) |
|
|
|
|
|
|
|
Less |
TAX |
|
0.060 |
0.454 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
(175.750) |
(142.093) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
(35.15) |
(28.42) |
LEGAL
CASES
HIGH COURT
|
SHRI PRADEEP LAXMAN CHAVA N VS MS. APLAB LIMITED |
|
high court-Mumbai |
|
Case no:10. LPA/8/2013 |
|
Case status: Pending |
|
Judge: BEFORE MRS. A. A. UPADHYE,MASTER & REGISTRAR IN EQUITY AND |
|
Date:2013-11-02T00:00:00Z |
HIGH COURT
|
SHRI PRADEEP LAXMAN CHAVA N VS MS. APLAB LIMITED FOR |
|
high court-Mumbai |
|
Case no: LPA/8/2013 |
|
Case status: Pending |
|
Judge: REGISTRAR (JUDICIAL - I [WP]) |
|
Date:2013-01-29T00:00:00Z |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF BUSINESS OPERATIONS
AND FUTURE PROSPECTS
During the year the Company could achieve marginally higher
turnover of INR 721.085 Million against INR 710.133 Million of previous year
and incurred loss of INR124.490 Million against loss of INR 175.881 Million of
previous year. Enhancement in turnover was mainly in traditional business of
power electronics, other divisions could maintained the past performance.
During the year there was continuous stress on liquidity due to which orders
could not be executed in time. On improvement in liquidity turnover can be
increased in the current year with expected growth in sale of banking
automation, measuring instruments and power supplies.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Fixed Deposits (Repayable within one year) |
0.000 |
47.484 |
|
Other Loans:- |
|
|
|
From Directors |
250.181 |
239.716 |
|
Inter Corporate Deposits:- |
|
|
|
Others |
2.000 |
2.500 |
|
Total |
252.181 |
289.700 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
C30156269 |
10526493 |
BANK OF MAHARASHTRA |
27/09/2014 |
- |
60000000.0 |
B-37, MSME BRANCHWAGLE INDUSTRIAL ESTATE THANE MH 400604 IN |
|
2 |
B66190695 |
10397606 |
BANK OF MAHARASHTRA |
19/11/2012 |
26/11/2012 |
90000000.0 |
SSI BRANCH, WAGLE ESTATE ,THANE MH 400604 IN |
|
3 |
A26891556 |
10075438 |
BANK OF MAHARASHTRA |
31/10/2007 |
- |
120000000.0 |
S S I BRANCH, B-37,WAGLE ESTATE ,THANE MH 400604 IN |
|
4 |
B14627152 |
10007360 |
CORPORATION BANK |
31/03/2006 |
23/05/2011 |
730000000.0 |
JAYASHREE BUILDING, AMBEDKAR CHOWKGPKHALE ROAD, NAUPADA THANE MH 400602 IN |
|
5 |
Y10259653 |
90159883 |
KALYANI FINANCIAL SERVICES LIMITED |
10/01/2000 |
- |
577000.0 |
LAXMI VILAS 1ST FLOOR SHIVAJI NAGAR PUNE MH 411005 IN |
|
6 |
Y10348126 |
90240489 |
THE SARASWAT CO-OPRATIVE BANK LIMITED |
07/07/1998 |
- |
222000.0 |
CENTRAL ADMIN. OFFICE APSARA CINEMA BUILD.DR. D.B. MARG GRANT ROAD BOMBAY MH 400007 IN |
|
7 |
Y10347820 |
90240183 |
THE SARASWAT CO-OP BANK LIMITED |
15/02/1996 |
- |
1394700.0 |
CENTRAL ADMIN. OFFICE APSARA CINEMA BUILD.DR. D.B. MARG GRANT ROAD BOMBAY MH 400007 IN |
|
8 |
Y10260199 |
90160429 |
HOUSING DEVELOPMENT FINANCE CO-OP. LIMITED |
10/12/1993 |
- |
468000.0 |
RAMON HOUSE169; BACKBAY RECLAMATION BOMBAY MH 400020 IN |
|
9 |
Y10255614 |
90155844 |
THE SAKURA BANK LIMITED |
11/06/1993 |
29/10/1999 |
28000000.0 |
2-8; MITTAL COURT224; NARIMAN POINT MUMBAI MH 400021 IN |
|
10 |
Y10255559 |
90155789 |
TECHNOLOGY DEVELOPMENT AND INFORMATION COMPANY OF INDIA LIMITED |
03/01/1992 |
- |
4000000.0 |
LEO COMPLEX; 44/45; RESIDENCY ROAD BANGALORE KA 560025 IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Disputed Tax / Duty demands not provided for |
98.838 |
98.519 |
|
Bank guarantees given on behalf of Company to third
parties |
137.011 |
104.573 |
|
Total |
235.849 |
203.092 |
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
(INR In Million)
|
PARTICULARS |
STANDALONE |
||
|
Quarter Ended |
Quarter Ended |
Nine Months Ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
Income From
Operations |
|
|
|
|
a. Revenue from operations |
141.486 |
119.683 |
413.738 |
|
b. Other Income |
0.822 |
1.195 |
2.973 |
|
Total Income from
Operations (Net) |
142.308 |
120.878 |
416.711 |
|
|
|
|
|
|
Expenditure |
|
|
|
|
Cost of Materials Consumed |
73.429 |
70.640 |
217.529 |
|
Excise Duty |
0.000 |
0.000 |
9.826 |
|
Employees Benefit Expenses |
36.611 |
38.924 |
115.111 |
|
Finance Cost |
25.323 |
26.175 |
77.925 |
|
Depreciation and Amortization Expenses |
3.991 |
3.991 |
11.973 |
|
Other expenses |
52.190 |
35.324 |
130.850 |
|
Total Expenses |
191.544 |
175.054 |
563.214 |
|
Profit / (Loss)
before Exceptional items and Tax |
(49.236) |
(54.176) |
(146.503) |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit / (Loss)
before tax |
(49.236) |
(54.176) |
(146.503) |
|
Tax Expense |
|
|
|
|
- Current Tax |
0.000 |
0.000 |
0.000 |
|
- Deferred Tax |
0.000 |
0.000 |
0.000 |
|
Net Profit After
Tax |
(49.236) |
(51.476) |
(146.503) |
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
Items that will not be reclassified to profit or loss |
2.700 |
2.730 |
8.100 |
|
(i) Income Tax relating to items that will not be
reclassified to Profit or Loss |
|
|
|
|
(ii) items that will be reclassified to Profit or Loss |
|
|
|
|
(iii) income Tax relating to items that will be
reclassified to Profit or Loss |
|
|
|
|
Total Other comprehensive income for the period |
(46.536) |
(51.476) |
(138.403) |
|
|
|
|
|
|
Paid- up
Equity Share Capital (share – INR 10) |
|
|
|
|
Other Equity (as per balance sheet of the previous
accounting year) |
|
|
|
|
Earnings Per Share (of INR 10 each) (not annualized) |
|
|
|
|
Basic |
(9.31) |
(10.30) |
(27.68) |
|
Diluted |
(9.31) |
(10.30) |
(27.68) |
Notes :
1. The above results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at the meeting held on 9th February, 2018.
2. The Ind AS compliant corresponding figures in the previous period have not been subjected to review. However, the Company's management has exercised necessary due diligence to ensure that such Financial Results provide a true and fair view of its affairs.
3. The Statement of financial results has been prepared in accordance with the
Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under
Section 133 of the Companies Act,2013 and other recognised accounting practices
and policies to the extent applicable. Beginning 1st April, 2017, the Company
has for the first time adopted Ind AS with a transaction date of 1st April,
2016.
4. The format for unaudited quarterly results as prescribed in SEBI's Circular
CIR/CFD/CMD/15 dated 30th November, 2015 has been modified to comply with the
requirements of SEBI's circular dated 5th July, 2016, Ind AS and Schedule III
(Division II) to the Companies Act, 2013, which are applicable to Companies
that are required to comply with Ind AS.
5. The Statement does not include Ind AS-compliant results for the previous
year ended 31st March, 2017 as the same are not mandatory as per SEBI's
circular dated 5th July, 2016.
6. The Government of India introduced The Goods and Service Act (GST) with
effect from 1st July, 2017 which subsumes excise duty and various other
Indirect Taxes. As required under Ind AS-18, revenue for the Quarter Ended 31st
December, 2017 is reported net of GST. Sales of periods up to Quarter Ending
30th June, 2017 are reported inclusive of excise duty. The revenue for the half
year ended 31st December, 2017 includes Excise Duty up to 30th June, 2017.
Accordingly, revenue from operations for the quarter and nine months ended 31st
December, 2017 are not comparable with corresponding previous periods.
7. No provision is made for current tax in view of the unabsorbed tax losses.
Deferred tax asset on account of such unabsorbed losses will be assessed during
subsequent years and will be recognized in conformity with the principles of
Ind AS 12 - Income Taxes.
8. The company is operating in one segment only i.e. Manufacturing and
Marketing professional electronic equipments.
9. The reconciliation of net profit or loss reported in accordance with Indian
GAAP to total comprehensive income in accordance with Ind AS is given below.
10. There were no complaints from investors that were unresolved as on 31st
December, 2017. During the Quarter the Company received no complaints from
investors.
(INR In million)
|
Description |
Quarter Ended 31.12.2017 |
Nine Months Ended 31.12.2017 |
|
Net Profii as per
previous GAAP (Indian GAAP) |
(35.817) |
(123.962) |
|
Actuarial gains / losses on post employment defined benefit plan |
(3.294) |
(9.883) |
|
Net profit as per
IND AS |
(39.111) |
(133.845) |
|
Other Comprehensive Income (Net of Tax) |
2.730 |
8.188 |
|
Total Comprehensive
Income for the period |
(36.381) |
(125.657) |
11. The Auditors have expressed concern in their report for non payment of various
liabilities on time, Management is trying to dispose off the property which
will enable repayment of these liabilities. Negotiations are in progress with
prospective buyers and bankers for necessary clearances.
FIXED ASSETS
· Leasehold Land
· Factory Buildings
· Residential Premises
· Office Premises
· Plant and Machinery
· Electrical Installations
· Furniture and Fixtures
· E.D.P.Systems/Computers
· Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.87 |
|
UK Pound |
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·